Australia’s version of The Guardian shapes up well

Troubled online journalism venture The Global Mail has taken a meat axe to its own staff — telling six employees they are redundant just days before Christmas — as funder Graeme Wood looks to spend millions on an Australian version of The Guardian.

The [Guardian] newspaper group has already cut more than 300 jobs in the past two-and-a-half years as it battles to stem annual losses of more than £44m. It has also slimmed down the Guardian, cutting a string of its flagship supplements.